Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2.Revise your regression model to predict customer value from a simple regression model to a multiple regression model by using TENURE, AGE, ORDERS as your

2.Revise your regression model to predict customer value from a simple regression model to a multiple regression model by using TENURE, AGE, ORDERS as your predictors (If using Excel, these columns will need to become adjacent to each other)

3.Note that one of the three predictors is not a statistically significant predictor (How do you determine which one?).

4.Adjust the model* so that it includes only the two variables that are statistically significant

5.What is the equation of your final multiple regression model with the two predictors?

6.What is the predicted value for a 25 year old, that has placed 2 orders?

7.What is the goodness of fit measure for your model? Is it a good model?

use excel to solve: https://docs.google.com/spreadsheets/d/13mpVqtzdkQsPaL2X3e2RhhFH_6qE9jsD/edit?usp=sharing&ouid=108337750659823752451&rtpof=true&sd=true

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Graphical Approach To Precalculus With Limits A Unit Circle Approach, A

Authors: John E Hornsby, Margaret L Lial, Gary K Rockswold

5th Edition

0321899806, 9780321899804

More Books

Students also viewed these Mathematics questions